Is it possible that the equivalent global Armageddon, in today’s stock markets, is fast approaching?
And if I am correct, will such events impoverish hundreds of millions of innocent investors world-wide…
And worse still, if I’m proved right in my suppositions (based on a long career as an investment adviser & investment columnist) will such an event then destroy the savings & livelihoods of millions & millions of unprepared (and unsuspecting) working-class citizens globally?
Sorry to wake you up from your stupor – likely induced by Barack Obama’s latest “affordable health care” celebratory victory dance & snoreathon.
And indeed, that’s one thing you can say about America’s President … he excels at “speechifying” from a teleprompter – if it weren’t for his sleep-inducing habit of robotically moving his eyes & head back & forth, left to right, and then right to left, and ZZZZZZZ…
Ooops! I fell asleep just trying to write about the event,
Oh, so why did I want to rouse you from your stupor – especially if you invest in North American stock markets?
Yes, I remember now:
It’s because all my recent investment research has convinced me that global stock markets are going to be metaphorically clobbered as early as early winter, as the “Fed” is forced to raise interest rates (ending “monetary easing”, as economists call it).
NOT LOOKING GOOD
And based on what I have learned about historical stock-market & economic cycles, through past research, I expect a global economic crash of significant proportions – creating rising costs of living, in the United States in particular, along with declining incomes AND soaring tax burdens for most citizens.
And based on what happened, historically, during previous economic implosions like this, we could possibly expect a rise in anti-government sentiments, expressed in extremist movements on the left & the right of the political spectrum.
Throw in the riots & looting that have accompanied similar past economic disasters like this – along with the rise of armed extremist militia groups and/or radical college protest movements – and you have the recipe for social anarchy and the “push back” by government through:
(1) Repression of “dissenters” via background checks;
(2) Intimidation of these “dangerous” elements by the IRS and other “justice” agencies; and
(3) Wholesale expansion of the government’s monitoring of suspected domestic “opponents”.
In other words, a world in which President Richard Nixon, of Watergate fame, would have felt quite comfortable … Not to mention President Barack Obama’s kitchen cabinet (can you say “Eric Holder, Jay Carney & Valerie Jarrett, boys and girls?).
GLOBAL DOOM & GLOOM
All of which leads to a mysterious “op-ed” document, which recently popped up as an unexpected e-mail attachment to my monthly (digital) issue of Marc Faber’s notorious “Doom & Gloom” newsletter.
It was penned by Joseph Glass in 2004 (although I suspect Joseph Glass is a pseudonym).
And though written in 2004 (a fact which I have been able to authenticate), it turns out to be a particularly prescient prediction of the disastrous political & economic events we’re experiencing today.
So, as best I can, let me reproduce (immediately below) this long howl of primal frustration & pain — masked as an op-ed — written by Mr. Glass, long ago in 2004…
That original publication date is most compelling, because this commentary presciently predicts the exact kind of economic events (such as unfettered money printing, as well as irresponsible & unsustainable deficit spending) which are occurring today all over the world.
Note, though, that I have able to verify that the original commentary was UPDATED earlier this year (2014), to deal with more recent economic & political events,
And that’s the version you’re about to read below.
I’ve edited the content down as much as possible (without omitting of any its major assertions); but unfortunately it’s still a long slog.
So if nothing else, if your time is limited, please just skip the entire Glass commentary, and scroll down to my own response – which I believe is briefer & more cogent, and yet expresses my own personal opinion that MR. GLASS IS 100% CORRECT.
In my opinion, global Armageddon (as described previously), may be a fact of life in a matter of months or (at best) several years.
And if we’re all lucky, then Mr. Glass & yours truly will be proven wrong; and I will be most happy to eat humble pie.
In the meantime, here is an “abridged” version of Mr. Glass’s essay that I promised:
AND HERE WE GO, WITH JOSEPH GLASS’ BRILLIANT BUT VOCIFEROUS COMMENTARY
–A CASE FOR DIVESTMENT
By Joseph Glass, February 15, 2004
“Turning and turning in the widening gyre
The falcon cannot hear the falconer;
Things fall apart; the center cannot hold;
Mere anarchy is loosed upon the world,
The blood‐dimmed tide is loosed, and everywhere
The ceremony of innocence is drowned;
The best lack all conviction, while the worst
Are full of passionate intensity.”
— The Second Coming, 1st Stanza … 1919 William Butler Yeats addressing September 12, 1919 Meeting of the German Workers’ Party
Commented one future European leader at the time, on this stirring address to the German Workers party:
“This absurd little organization with its few members seemed to me to possess the one advantage that it had not frozen into an ‘organization,’ but left the individual opportunity for real personal activity. Here it was still possible to work, and the smaller the movement, the more readily it could be put into the proper form. Here, the content, the goal, and the road could still be determined…” “I finally came to the conviction that I had to take this step… It was the most decisive resolve of my life. From here there was and could be no turning back.”
And the author of this self-revelatory missive?
CORPORAL ADOLF HITLER, party member number 55, 7th … of the executive central committee of the German Workers party!
But the challenge is not to grasp and digest all the evil that was happening then ‐‐ that’s not too difficult.
However, it’s much more difficult to find a point of departure for those historical forces that can be set against it….
Later, after World War II was won, a new voice of protest emerged.
And here’s how this new authoritarian crusader put it:
“Today we can almost physically hear the mutterings and rumblings of an invigorated god of war. You can see it, feel it, and hear it all the way from the Indochina hills, from the shores of Formosa, right over into the very heart of Europe itself.”
And the author, in this instance?
SENATOR JOSEPH MCCARTHY (speaking in Wheeling, West Virginia, February 9, 1950) …
And now to the crux of the matter, today in 2014:
“Always remember that we are asking users to trust us with their personal information…”
— excerpts from the google code of conduct, winter 2014.
So how does all of the preceding historical observations relate to today’s modern world, particularly the United States of America?
Through the potentially authoritarian & over-extended reach of the Homeland Security agency, in the new fully-transparent” Obama administration…
Yet, clearly over the last 70 years, few have paid heed to America’s great military general & president’s admonitions against such a path … the sage advice of none other than Dwight Eisenhower, a Republican (warning of the destructive influence, on America, of what Eisenhower called the “military industrial complex”)…
When the current leader [President] of the Homeland says … “either you are with us or against us” … it is difficult to discern whom it is he is addressing on the one hand, and who it is he is representing.
In today’s system of government largesse, everyone is vested … None cannot do without it…
Worse, many are sacrificed slowly like the country’s middle class — alive & economically dying at the same time — via every petty and major tax, regulation & payable regulatory fine — which also crimps and hinders the efforts of every small business which produces in the tangible (real) world & not the algorithmic world (of rigged economic growth & unemployment statistics).
When the stock market eventually returns from its long vacation (and rising share prices), this is when everyone will be bailed in and the giant wealth destroying tax will be levied (cloaking itself in a horrendous stock-market crash & then likely fiscal bankruptcy by the U.S government … drowning under the enormous debt created by the free-spending Obama administration)…
Cash, it has been said, during dire economic times, is king.
However, in America and across much of the developed world (due mainly to IRS transaction tracking), cash will soon turn an honest citizen into a suspect of (or party to) a crime … and cash transfers outside of this nation (the United States) will soon be prohibited by law…
WILL THE LAST AMERICAN TO FLEE THE COUNTRY, PLEASE FLUSH
However, there now exists a more than certain crystal clear clarity about where dangerous — but once wishfully benign trends — are heading … unless there is a change in direction by those who are collectively in command of America’s ship of state … which now increasingly floats on an ocean of DEEP DEBT…
If you now still think there is no need to be concerned about these matters, all the absolute very best wishes to you during your continued sunny stay at the Lodge at Inverlair … Bon Chance!
THE SERMON HAS FINALLY COME TO AN END
And that my friends is the end of my “abbreviated” version of Joseph Cash’s long investment commentary.
And now here’s my own take on the preceding “doom & gloom” forecast:
SO WHAT DO I THINK?
Just a reminder that my unfailing cry recently – in my Twitter investment “posts” (http://stocktwits.com/MurrayS) – has been that a massive stock market crash is inevitably coming in the United States…
And that’s despite all the great profits currently experienced by today’s foolish & reality-denying U.S. stock-market investors …profits occurring only because of the continued “artificial” low-interest-rate policies created by the “Fed” (first by Dr. Bernanke and now by Ms. Yellen)…
So my cautionary warning: Hold onto your hats & wallets, folks!
Because, in my opinion, Fed quantitative easing is just around the corner (perhaps as early as late winter); and that’s when the proverbial (pardon the expletive) SH*T hits the fan.
Because (in my opinion) when that inevitably happens, global stock markets will crash; and hyper-inflation will wipe out the savings of everyone but greedy crony capitalists like George Soros, Valerie Jarrett and the rest of the green-energy gang (who brought you the government-subsidized Solyndra bailout in the U.S.).
Hence, thanks to Barack Obama & Harry Reid, there will finally be income equality in America…
But it will be equal impoverishment for ALL Americans, except the privileged & spoiled elitists who inflicted this economy policy on the rest of us.
I’ve said it once, and I’ve said it over & over again — in so many of my recent investment posts:
There is only one political solution to this politically-created economic status quo: a “status quo” that specifically entails (1) rising costs of living; (2) rising taxes and rising unemployment among America’s disadvantaged youth; and (shockingly) (3) a meager .01% annual GDP growth, accompanied by repeated TRILLION dollar deficits.
Even a six year old could probably have done better, managing the U.S. economy, than America’s “economic-challenged” community-organizer-in chief!
There’s only one solution to this “made in America” economic crisis:
In the 2014 & 2016 elections, Americans should vote all those Democrat bums — responsible for this economic mess — out of office!
[Murray Soupcoff is the editor & co-author of “Good Buy Canada”, and author of “Canada 1984”.
He was a founding member (and senior partner) of Ian Sone & Associates Ltd — Canada’s first independent social-research company specializing in evaluations of federal, provincial & municipal government projects.
He is also the publisher of the FREE “Soupcoff Report” investment newsletter, whose distribution is partly subsidized by paid subscriptions from former research clients.
You can e-mail Murray Soupcoff at: email@example.com]